For sale 6 units with Tremendous upside! For more information contact the listing agents 310-666-2246 (agent) •arminsoleimani@gmail.com (agent) Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc.

Posted: 03/20/2024 3:06 pm | On HOMEiZ: 50 days | Updated: 1 week ago | Views: 171

Location Map

Property Type

Property status

Available

Property Price

Asking Price

$1345000

Last Sold Price

Total Lot Size

7,302.00 Sq. Ft.

Asking Price per Sq. Ft.

$323

Total Building Size Sq. Ft.

4164

Commission Split %

2.5%

Cap Rate %

5.00%

Gross Annual Income

Net Operating Income

$67250

Gross Rent Multiplier

13.34

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$16813

Property Location & Description

Listing Headline

For sale 6 units with Tremendous upside! For more information contact the listing agents 310-666-2246 (agent) •arminsoleimani@gmail.com (agent) Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc.

Rent control

Rent Control

Property Description

Unlock your investment potential with this amazing property located in the heart of Downtown Los Angeles! With an incredible value of $225k per door and $324 per square foot, this property offers an excellent investment opportunity with a real 5% cap rate and 12.19 GRM. The property consists of six units, including two spacious 2-bedroom residences and four cozy 1-bedroom apartments, making it a perfect choice for investors looking for a prime rental opportunity. As you step inside the remodeled unit, you will be captivated by its new laminate flooring, sleek kitchen cabinets, recessed lighting, and upgraded bathroom - all designed to attract tenants. The property spans over two buildings, with a total of 4,164 square feet on a spacious 7,302 square foot lot zoned RD1.5. This property offers significant potential for rent growth and value enhancement, making it a great investment opportunity.

Location Description

Property located in the heart of Downtown Los Angeles!

No. of Units

Price per Unit

$224167

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

1+1

$706

2+1

$1948

APN / Parcel ID

5135019011

Zoning

LARD1.5

Occupancy %

83%

Construction Type

Wood & Stucco

No. Stories

Year Built

1923

Overall Property Condition

Good

Highlights

Generous 7,302 square foot lot zoned RD1.5 – making it ripe with possibilities.

Huge upside in rents!

Two buildings encompassing an impressive 4,164 square feet

Situated just minutes away from the bustling heart of Downtown Los Angeles

Property Information

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

# of Covered Parkings

Investment Overview

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

https://gppla.com/

Listing Info

Listing ID: 3437

Available

For Sale

$1,345,000

Listing Presented by

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1446 South Burlington Avenue . Westlake , CA 90006